BikeBiz Bicycle and cycling retail news
Urban transportation specialist Tern has successfully completed its US Kickstarter campaign for the compact Bosch-powered electric bike – the Vektron.
After reaching the initial target of $60,000, the campaign went on to raise more than 150 per cent of the funding goal. Tern will release the product through its network of over 150 dealers in the US.
“Local bike shops are the keystone of cycling in communities but as we all know, consumer buying behavior is changing,” said Josh Hon, founder and team captain of Tern. "We’ve spent a lot of time discussing how to adapt to new consumer behaviors, while growing and supporting local shops.
"With our latest Kickstarter campaign, we’re pioneering a hybrid sales model that offers the product exploration and discovery that consumers are increasingly looking for online, combined with the local service and support that are essential to growing cycling in cities. Our dealers are happy, Tern riders are happy, and we’re happy too.”
The Tern Vektron retails for $3400 in the US, and will be priced at around 3,300 Euros in Europe. The bikes will begin shipping in Q1 2017.
